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the clutch, you go from what is technologically possible to what is politically feasible. the problem hasn't been that it is not technologically possible, it is just politically not feasible. a couple of things have happened. one is the attempt to shift gets frustrated. you need only look at some pretty good initiatives that have gone to congress and have been almost dead on arrival. the second is you have another driver, the fed, which has been trying to force change but haven't been able to do it using proper instruments. that is why the benefits have been less than what were expected and the cost or the collateral damage has become a concern. >> where do we go from here? >> let me tell you what should happen. it is important to make the difference between that and what is likely to happen. what should happen is you should have a political coming together on the four things this economy needs. the problem is that the political debate is very -- right now. we need structural reforms. we need more balanced aggregate demand. we need to deal with debt overhang and persistent behavior that un
Search Results 0 to 0 of about 1